Profitable Italian Restaurant in Surrey For Sale

Terrace property, excellent trading position, residential, office and commercial area, Surrey.

Turnover £ 12,250
Price £410,000

Features

Licenced Italian Restaurant

FORECOURT WITH SEATING 8 PEOPLE
4 STAR HYGIENE RATING
DINING VIEWS OF PARK

DOUBLE FRONTED PREMISES in the region of 1,285 ft² WITH CANOPY, wood strip floor, ceiling with spot lights. Bar, drinks display fridge (glass fronted upright), cash register, etc. Tables and chairs providing seating for 80 People, CCTV system (4 cameras, 1 monitor).

Ladies' & gentlemen's Toilet with w.c. and wash hand basin.

Open plan kitchen area, steel extractor unit, double deck Pizza Oven, 2 x Gas 4-burner Cooker, grill, Deep fryer, 3 fridges, 2 freezers, 4 stainless steel preparation tables, marble count top 2 door fridge, stainless steel count top 3 door fridge, preparation tables, dishwasher (commercial), double sink and drainer.

Basement, used for storage purposes.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,250 p.w., tremendous scope to increase with the introduction of ONLINE DELIVERIES

The accounts 31 DECEMBER 2022 show SALES of £695,680, with a GROSS PROFIT of £478,881 and a NET PROFIT OF £121,798

Staff

The business is at present operated by the Husband & Wife team with 10 full time staff employed.

Trading Hours

7 Day week
MONDAY - THURSDAY 12noon - 3pm then 6pm - 10pm
FRIDAY 12noon - 3pm then 6pm - 11pm
SATURDAY 12 noon - 11pm
SUNDAY 12 noon - 10pm

Tenure

The vendor owns the Freehold and subject to satisfactory references are prepared to grant a new 16 years full repairing and insuring lease with rent reviews every 4 years at a rent of £49,000 p.a. for the first 4 years.

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2015, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £410,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 205,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote